Flow Traders, a leading crypto market maker, has withdrawn 1,584 BTC (worth approximately $160 million) from exchanges in the past 24 hours. This significant transaction suggests that the firm may be preparing for further market volatility or anticipating a long-term price downturn. According to on-chain analyst The Data Nerd, the withdrawals began an hour ago with a 50 BTC transfer from Bybit. The address has also sent 530 BTC to a purported Fidelity address. Flow Traders' withdrawals come amidst a broader market sell-off, with Bitcoin's price falling below $11,000 for the first time since October 2022. Other major cryptocurrencies, including Ethereum and XRP, have also experienced significant losses in recent days. It is unclear why Flow Traders is moving such a large amount of Bitcoin at this time. However, the withdrawals may be a sign that the firm is expecting further market weakness. Alternatively, Flow Traders may be simply moving its assets to a more secure location. Regardless of the reason, the withdrawals are a reminder that the crypto market remains volatile and unpredictable. Investors should be aware of this and trade accordingly.

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